What is Microsoft losing? AMD is still selling x86 chips. There's ARM. They can port to RISC-V. OS isn't even their bread and butter anymore.
An architecture switch where a lot of software won’t run well (or at all) is a big risk for them that people could start to go elsewhere in non-trivial numbers.
Apple, Linux, Chromebook.
Yes they have a compatibility layer for running x86 on ARM. They could make it for other archs. But that’s still a big effort and consumers may not trust.
That said, has anyone checked in with Lisa Su on this?